Right Thinking From The Left Coast
"To what purpose are powers limited, and to what purpose is that limitation committed to writing,
if these limits may, at any time, be passed by those intended to be restrained?"
-- Chief Justice John Marshall, Marbury v. Madison, 1803

Tuesday, January 11, 2005

Making Bank
by Lee

I’m shocked, shocked that this story isn’t getting more attention in the media.

The U.S. government ran a $1 billion budget surplus in December, helped by a rise in corporate tax payments, the Congressional Budget Office said in its latest budget report released on Friday.

The surplus, which compared with an $18 billion deficit in the previous December, helped create a smaller fiscal deficit for the first three months of the 2005 fiscal year, than in the same quarter of the prior year.

“In December, most corporations make their fourth quarterly payment of income taxes,” the CBO said, adding that corporate tax refunds were lower than in the previous December.

Congress’ nonpartisan fiscal watchdog said the 2005 shortfall now stands at $114 billion, about $16 billion less than for the same period last year. The 2005 fiscal year began on Oct. 1.

Amazing, isn’t it.  When they reported on Bill Clinton they takled about the “low” 5% unemployment, yet Bush had “high” 5% unemployment.  And they showed no mercy reporting on Bush’s rampant fiscal irresponsibility, yet astonishingly they seem to have missed out on trumpeting this news from the roof of their ivory tower.

Oh, that liberal media.

Posted by Lee on 01/11/05 at 08:03 PM in Politics  • (5) Trackbacks • Permalink • Discuss this in the forums
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